The building information management (BIM) market is poised for remarkable growth, with projections indicating that it will soar to approximately US$ 23,660.9 million by the year 2032. This surge is driven by the increasing adoption of BIM technologies across the construction and infrastructure sectors. BIM, a comprehensive digital representation of building processes and assets, has revolutionized the construction industry, offering enhanced efficiency, collaboration, and data-driven decision-making.
The compound annual growth rate (CAGR) of 13.2% further underscores the industry’s momentum, with BIM becoming an indispensable tool for architects, engineers, contractors, and project managers in streamlining design, construction, and operational phases, ultimately reducing costs and improving project outcomes. As the construction world embraces the advantages of BIM, the market is set to continue its robust expansion in the coming years.
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Creating advancement practices in the private and business regions should uphold the premium for BIM courses of action. Likewise, with government support across various countries, public and private makers have been doing the item to drive utilitarian adequacy.
Specialized enhancements that empower information organization at distant servers and between client coordination are reinforcing the reception of building information management arrangement and programming. Aside from this, there is a flood in BIM utilization because of its different benefits over contemporary devices of the same class, for example, paper-based plan, demonstrating, and PC-helped plan (CAD) frameworks.
Factors such as the growing trend of the Internet of Things (IoT), rigorous government rules regarding the use of BIM software, and improved construction productivity are also fueling the market expansion.
However, the market is facing a fall in BIM software sales as a result of the increasing number of COVID-19 cases, the resulting stop in building projects globally, and lockdowns enacted by several nations. The market is projected to increase if normalcy is restored.
Key Takeaways From The Building Information Management (BIM) Market:
- By solution, the BIM software segment is predicted to lead the worldwide demand for building information management, exhibiting a CAGR of 13.7% during the forecast period, followed by the services segment.
- By end users, the architects and consultants’ category is dominating, registering a CAGR of nearly 14.8% between 2022 and 2032.
- By application, the demand for BIM systems is expected to rise more rapidly in the commercial sector than in the residential sector throughout the projected period.
- By geography, North America presently has the largest market share of roughly 30.3% in the BIM industry in 2021, however, the South Asia & Pacific region has the highest growth rate of around 15.4% through the period of 2022-2032.
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Rise in Prefabrication to Fuel the Demand:
Buildings or building components are built offsite by construction teams and then transported to the construction site once completed. Prefab is considered to be more efficient and faster than onsite construction.
BIM software facilitates prefabrication by detailing the materials and design of a building and its components making it easier to plan the resources as well as schedule assembly. Building information management creates highly detailed models in a fabrication-level 3D file format that may be directly triggered by Computer-Aided Manufacturing (CAM) equipment.
The components are then created by these machines with great precision, accuracy, and quality. These factors are expected to majorly contribute to the growth of the building information management market in the coming years.
Optimizing the Processes Interaction through Systematic Digitalization to Help the BIM Market Create a Strong Footprint:
Digitalization in the construction sector remains weak. Catchup effects and increasing investment in industry-specific software solutions that control processes more efficiently and reduce costs and time expenditure are creating demand for BIM solutions.
By decreasing building time, increasing quality, and cutting costs, optimizing the interaction of all processes will provide the industry a more than 20% gain in efficiency.
Thanks to the world’s leading building information management approach, many aspects of this change may already be accomplished efficiently utilizing current technology. These factors are projected to further accelerate the market growth in the near future.
Leading Key Players:
- Autodesk Inc.
- Trimble Solutions Corporation
- Graphisoft (Nemetschek Group)
- BIMobject
- Elecosoft
- RIB Software SE
- Dassault Systèmes
- DataCAD LLC
- Bentley Systems
- Procore Technologies
- Bricsys NV
- Vizerra SA
- Cadmatic Oy
- ArCADiasoft
- ACCA software
- Kreo
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Building Information Management (BIM) Market Segmentation:
By Solution:
- Software
- Services
- Structural Design & Modeling Services
- Project Consulting
- Support & Maintenance
By End User:
- Civil Engineers
- Architects & Consultants
- Construction Supervisors
- Building Contractors
By Application:
- Residential
- Commercial
- Industrial
- Government
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East and Africa (MEA)
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